Fed chair is currently testifying to the house ways and means committee. Whether it is eu in china or the u. S. In china, we will break that down. We will have exclusive interviews with the erickson ceo. The main story continues to be the fed. The pandemic may threaten the stability of longterm Inflation Expectations. That was according to the vice chair yesterday. I judge that measures of longerterm inflection Inflation Expectations were at the downturn at the lower end of the range that i consider consistent with our 2 inflation objective. Given the likely downturn, we are at risk of falling below that range. Us now is blackrock system medical systematic portfolio manager. What does that mean if we fall sustainably below that range . That is where we are today. This is a huge shock. It is a huge shock across both sides of the economy. That has been met with less price inflation. We have seen the impact across price commodities. We have seen it yesterday with retail sales in recovery
Massive rally on the heels of the stunning may jobs report 2. 5 million jobs added last month and the biggest increase ever and economists were looking for payrolls to drop by more than 8 million and major indices were 50 above their march 23rd lows and four s p 500 sectors were now positive for the year and the Consumer Discretionary hitting an alltime high guy, does this make sense . Amazing not to me, it doesnt, clearly. And ive been saying this now and it seems like the last 300 or so s p points and its been steadfast and hes been in that camp, as well. Just on the terms of a backdrop on a lot of Different Things it doesnt make sense, but if you strip out everything that weve seen, you start doing the math on this thing and you look at the s p 500 market cap over gdp, youre talking about levels that are nosebleed and nosebleed i mean 150 and a lot of that talk about it as the buffett indicator and it typically is unsustainable and if you start to do the math on the multiple and i u
Legendary Silicon Valley venture capitalist tim draper, he was a very early investor in twitter. We have him in a fox business exclusive on exactly what he thinks and how serious he believes this new move by President Trump ostensibly against twitter and other social media names might really mean for Silicon Valley. And we are looking at many different stories at this hour, specifically let the bidding wars begin. Yeah, the Housing Market. How about that. We know that more states are allowing the reopening of so many different businesses, including Real Estate Brokers who had been during the lockdown banned from pretty much facing facetoface potential buyers. Re realogys ceo is here on just how strong he believes the snapback in recovery for the real estate business really truly is going to be. And the coronavirus lockdowns have taken a toll on americans Mental Health. The hottest app in wellness, in the wellness world, is now focused on pretty much helping you get your mind in the rig
Haslinda, what are you seeing . Haslinda Industrial Production coming from march showing a strong recovery momentum. We saw what happened in march. It is pulling back from a historical plunge in the first two months of the year. Still there are some challenges if you take a look at the supply chain. China still faces supply risks from a global lucked out. Factory production global lockdown. Factory production still shut down in many parts. Bloomberg intelligence saying 70 of chinas imports were used for production in 2015. Still strong numbers in terms of Industrial Production coming in at 3. 9 versus the estimate of 1. 5 . If you want to track the trajectory Going Forward, we have to track those economies like korea, japan, taiwan. They supply china with the most technology parts, the u. S. And germany, even brazil. As long as they are not emerging from the lockdown in their respective countries, it wont be in issue for chinas own production. Industrial production for china year on ye
Recovery of the whole of europe. President trump invokes a wartime law to get more swabs produced as he rebukes accusations from impov ngovernoy dont have enough testing equipment to reopen their states elsewhere the uk government is reportedly split on easing of lockdown restrictions, as it appears the Health Secretary matt hancock wants to defeat the virus before easing measures phillips First Quarter numbers drop 33 as they suffer the effects of coronavirus in all of their markets the ceo telling this station, though, they do see growth coming back in the second half of the year. Our order is strong and we expect a gradual resumption of Consumer Sentiment, as we could already start to see in china. Light crude prices get crushed amid concerns the u. S. Is about to hit storage capacity, sending the may wti contract to its lowest level since 1999 well, a very warm welcome this morning lets get into our top stories of the day a number of u. S. Governors have clashed with President Trum